Porsche to invest over six billion euros in electromobility by 2022

Porsche has been putting together an unprecedented future development plan and by 2022, aims to have invested more than six billion euro in electromobility.

This will be with a focus on both plug-in hybrids and purely electric vehicles.

The decision was made by the Porsche AG Supervisory Board at its most recent meeting. “

Oliver Blume, chairman of the executive board of Porsche AG, said: “We are doubling our expenditure on electromobility from around three billion euro to more than six billion euro.

“Alongside development of our models with combustion engines, we are setting an important course for the future with this decision.”

The plans have been bolstered significantly to include around three billion euro of investment in material assets, and slightly more than three billion euro in development costs.